UCO Bank has announced its third quarter results of FY10. Its net profit went up 42.74% to Rs 245 crore from Rs 171.63 crore.
Net interest income increased 39.4% to Rs 627.61 crore from Rs 450.21 crore. Other income fell 23.9% to Rs 234.04 crore from Rs 307.6 crore.
Provisions declined 6.86% to Rs 211.36 crore from Rs 226.93 crore.
Advances grew at 22% while deposits grew at 19.77% in the quarter ended December 2009. Total business grew 20.7% to Rs 1.78 lakh crore.
Gross NPA (non-performing asset) was up 1.23% to Rs 1,493.23 crore and net NPA was down 14.75% at Rs 657 crore. Net interest margin stood at 2.35% versus 1.99%.
Source: CNBC-TV18Courtesy moneycontrol.com
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